Ok, contango going on, short time to expiration. Do I short M1 and long M2 or vice versa? Didnt want to bother and embarass myself by tweeting Vance.
I don't think there is an easy answer. If you think the market will be relatively quiet in the short term, buy M2 sell M1. If you think there will be an increase in movement/vol in the short term, do the opposite.